The Base Central Pattaya comprises two towers, 28 and 31 stories respectively with a total of 1112 units ranging in size from 28 sqm – 70 sqm. And it is the latest high-rise development in Pattaya from Sansiri, this is quite unbelievable that we will get another 30-storey high-rise on Recond Road.
It is very exciting news and it is even more exciting that Sansiri will be developing this project. We already have another 24-storey high-rise under construction on second road opposite Big C North, a hotel development called [email protected] Design Hotel Pattaya.
The Base Central Pattaya will be located on Second Road between Soi Diana Inn and Soi 11 also known as Soi Honey Inn and there will be an entrance from Second Road. These two sois are party sois, this is where you go for a beer or a massage. There is a large piece of undeveloped land right behind LK Renaissance Hotel and this is the perfect location for a condominium development. Perfect, because we are close to the beach and close to the Central Festival Pattaya Beach complex that is located within walking distance, probably not more than a couple of hundred meters away.
Sansiri’s first high-rise development in Pattaya is the famous Baan Plai Haad on Wong Amat Beach and that is a Grade A development we really like and highly recommend. Sansiri’s third develpment in Pattaya will be the dcondo on Thepprasit Road located near Soi Ko Phai. I mentioned that Baan Plai Haad is a Grade A development. In Pattaya nobody specifies the grade of a development, mostly because we have a lot of Grade D developments here.
The grade is determined by the materials used in the development. A 1 million baht condo will be a Grade D development. The only local developer capable of producing a Grade A development has for a long time been Raimon Land PCL but all that seems to be changing these days. A Grade A development will cost no less than 4 – 5 MB simply because quality materials are expensive. You must also distinguish between the grade of the development and the grade of the location. But again, these are terms never used in Pattaya due to lack of local experts in this field.
The Base Pattaya is somewhere between Grade B and C, perhaps Grade C+. The location is probably a Grade A location because we are close to both the beach and the Central Pattaya Beach Complex. I might mention that there is nothing wrong with having a Grade D development, Sansiri also has some Grade D developments like the dcondo in Rattanathibet where a 28 sqm unit costs around 1 million baht. Don’t use the grade to mock your opponents, it is a tool so customers know the quality of the build and the materials used.
Sansiri is a very big Bangkok based company with more than 40 developments in the portfolio and that make the local developers seem very small in comparison. Actually it does not make any sence to compare the big developers from Bangkok to the local developers, it is like comparing comparing mice and men, not in any way disrespecting the local developers but they are up against some really huge professionally run companies. Practically all of the big developers in Bangkok are listed on the Stock Exchange of Thailand and Sansiri has been listed since 1996. Most of the local developers in Pattaya did not even exist 7 years ago and they do not have a real company structure, it is more like a company where just one man is making all the decisions and that person has to work very hard (a one-man show).
Sirisa is a giant in the development industry, a giant that can easily crush any opponent. Sirisa has a strong financial background but that is not the only reason why the local developers should fear them. It is a thai company with deeply rooted connections to the thai middle and upper classes. A thai customer faced with the choice of buying a condominium from Sirisa or from a foreign developer will at any time choose Sirisa. You don’t really need to know much about the property market in Bangkok to understand that Sirisa has an invaluable reputation in the development industry.
All points to that the good times have come to an end for the local developers. LPN Development will take care of the lower segments of the market while Sirisa will deal with the middle and upper segments. For the local developers Sirisa and LPN could be seen as The Borg: Resistance is futile. My guess is that the local developers will need to look elsewhere. This is Thailand and Thais prefer to do business with other Thais. And when the foreigners find out what Sansiri has to offer they too will prefer Sirisa. This kind of news tend to attract attention and spread fast on the internet. What is hot and what’s not? – Sirisa is hot and The Base Pattaya is even hotter!
Bangkok high-rise developments by Sansiri include Blocs 77 located right next to The Base Sukhumvit 77, the recently completed Vyne near Sukhumvit 71, the beatiful Siri at Sukhumvit near BTS Thong Lo, the recently completed 28-storey Keyne even closer to BTS Thong Lo, 39 By Sansiri completed 2010 and architcture by Palmer and Turner, the beautiful just completed 42-storey Pyne (298 units) at BTS Ratchathewi, the 26-storey Onyx Phahonyothin under construction, just to name a few.
As mentioned, Sansiri is a company with a very good reputation. Sansiri serve mostly thai buyers that are very loyal and return to buy units in their new developments. If you have a good product you will get a good reputation and if the developer is a thai it is even better – this is indeed the case for Sansiri. The Base Central Pattaya will be a fast selling development, of that there is little doubt. We are not talking “maybe it will” or “probably it will”, we are just stating a fact. Name of developer, location and price, that is all it takes. And the success will quickly lead to more launches from Sansiri. Read more about Sansiri and LPN winning the property war in Pattaya here.
Price started from 1.99 MB. Unfortunately Sansiri charge foreigners more than thais just like the local developers in Pattaya do – I looked at a unit that cost 3.35 MB for thais and 3.7 MB for foreigners, a difference of 350.000 Baht.